Realtruth2023:


This is for internal consumption. OPEC rules don't apply here.

Lies Oga.

You people keep demonstrating ignorance.

Nnpc has joint venture partnership with several IOCs to explore crude. Crude explored in Nigeria whether for local or international has to be sold at opec pricing otherwise we will be sanctioned.

I think Seun needs to start banning people that display wanton levels of ignorance so we can bring some level of santity to this forum.

justtoodark:


bwahaha....absolutly not....how much do you sell a barrel of oil that you buy a liter of oil today....??

how much liter is in a barrel of crude oil....??

Really don't know why you're arguing or what point you're trying to make. For many years this was exactly how Nigeria operated. We swapped crude for refined products to eliminate the fx issues in the middle. It's not a new system and it obviously works. If you need details you can google them yourself but it is a fact that the quantity of refined products is significantly higher than the quantity of crude in a single barrel. Don't argue for the sake of it.

deenee:


Lies Oga.

You people keep demonstrating ignorance.

Nnpc has joint venture partnership with several IOCs to explore crude. Crude explored in Nigeria whether for local or international has to be sold at opec pricing otherwise we will be sanctioned.

I think Seun needs to start banning people that display wanton levels of ignorance so we can bring some level of santity to this forum.

wetin bannin will bring....??

we have to educate each other in different fields....

he could know things you dont know....
dont be ignorant....

Biodun556:




Them no they like good news

but where ever they go , good news happen ? Dry lands flow with honey when they arrive. Where ever they avoid, darkness looms

So what are you saying ?

nairalanda1:


If you were a businessman, and you were selling yam you bought from farmer at N1500 per tuber, will you sell that same tuber at N200 per tuber to help the poor breathe? To help the masses breathe?

You will not, because your business will die.

Dangote needs to pay salaries(at the rate that his workers would not jakpa), pay taxes, pay for crude at international prices, pay for maintenance costs, etc etc. Expecting him to do all that and then sell fuel at N200 per liter because of the masses is a big joke.

Businesses are not charities. They exist to make profits, and to make more profits. They do not care about the masses, because if they let the masses set their prices, they would crash. If the masses were allowed to set MTN and Airtel prices, they would crash well well.

Hopefully, it would reduce the pressure on dollars, and hopefully this means the cost of transporting fuel falls. But the era of cheap fuel is over. NNPC is even now a private company self.

The funny thing is people will call me oppressor now. Ok. If a business cannot set its prices, how would it make profit for shareholders and workers? Shebi government go pay am? Lol.

You have stated the obvious and I quite partially agree with you on the business angle. Meanwhile, the government owes it a responsibility to create a balance in the system. I.e. a person can decide to sell a yam for 10k per yam. Same yam he bought from a farmer at 200 & other cost 500 making a total of 700 expenses incurred. And make 9k profit especially on essential products yet the govt will look the other way. So it's more of exploitation rather than business. These are also one of the artificial causes of inflation. No regulations on profit ratio. Not to mention the strengthening & support for market monopoly by government actions & inactions. This will continue to create the wide gap there by enriching the rich & weakening the poor. This is my general observation of the Nigeria business environment. On the Dangote refinery, there won't be price cut neither will it improve the pressure on forex. The only merit is that there will be product availability.

SmartyPants:


Really don't know why you're arguing or what point you're trying to make. For many years this was exactly how Nigeria operated. We swapped crude for refined products to eliminate the fx issues in the middle. It's not a new system and it obviously works. If you need details you can google them yourself but it is a fact that the quantity of refined products is significantly higher than the quantity of crude in a single barrel. Don't argue for the sake of it.

bros....how much do you sell a barrel of crude and how much do you buy refined crude per liter....

thats all i care about....

provide this informations then we can start arguein if what you say make sense....

@Biodun556 , does it reduce the fuel price ?

solex75:


Products exported will improve Nigeria's balance of trade.

keep speaking big grammar. Your classmates in Canada are already building plazas and buying some back home here.



Keep waiting for dangote , a businessman, doing for his profit only

Sai Baba Buhari. May God continue to bless your foresight.
Your good name shall never be forgotten. You made this come through for Nigerians.
In good health shall you live. Amen

solex75:


Products exported will improve Nigeria's balance of trade.

keep speaking big grammar. Your classmates in Canada are already sending millions to build plazas and buy some back home here in Lagos. Keep waiting for Mr Dangote, a businessman whose only aim is his profit

justtoodark:


bros....how much do you sell a barrel of crude and how much do you buy refined crude per liter....

thats all i care about....

provide this informations then we can start arguein if what you say make sense....

You don't seem to get it - I'm not interested in the argument at all. Or to put it the way you may understand, I really don't care what you care about. I have given you the framework, you can google the rest. Or feel free to disagree. Either way works very well for me. Cheers.

solex75:


At least it will reduce pressure on forex.

Abi

Biodun556:


Exactly

Prices of many products will drop

SmartyPants:


You don't seem to get it - I'm not interested in the argument at all. Or to put it the way you may understand, I really don't care what you care about. I have given you the framework, you can google the rest. Or feel free to disagree. Either way works very well for me. Cheers.

....

how you wan come through life without engagin people....

do you automaticaly await that people agree with you no matter what you say....

BreconHills:


The primary benefit is to to increase fx revenue
Higher fx revenue means higher reserves. Higher reserves will eventually translate to lower prices.

Even if the masses don't understand those who have had a uni or poly education should be able to explain it to them.

Nothing will change... this is Nigeria where people buy dollar just to hoard it

justtoodark:


....

how you wan come through life without engagin people....

do you automaticaly await that people agree with you no matter what you say....

Engagement is lovely but not with difficult people. The info you seek is googleable so why not do that and get back to me?

1. How much does a barrel of crude cost?
2. How many litres of refined products can you get out of a singe barrel?
3. What is the cost per litre of these products which include PMS, diesel, aviation fuel and so on.
4. What is the total value of a refined barrel of crude in output?

The answers are all there.

When you have this data you can come back.

Magnetic010:
Nothing will change... this is Nigeria where people buy dollar just to hoard it

yeah,dollars is like gold to them....

i dont remember havin dollars....
i dont have their issues....

SmartyPants:


Engagement is lovely but not with difficult people. The info you seek is googleable so why not do that and get back to me?

1. How much does a barrel of crude cost?
2. How many litres of refined products can you get out of a singe barrel?
3. What is the cost per litre of these products which include PMS, diesel, aviation fuel and so on.
4. What is the total value of a refined barrel of crude in output?

The answers are all there.

When you have this data you can come back.

i am not difficult....!!😂😂

my wives wouldnt agree with you....😂😂

ZKOSOSO:


Nope....
I am happy. Just the fact that Nigerians are going through a lot already. Dangote is a shroud capitalist who doesn't like Lagosians enough.
Otedola just gave 1 billion yesterday to Lagos security fund. Why would Dangote not give too ?
Last time he gave Jobs to Engineering graduates mainly from his core Northern people only. What of other Southern Engineering graduates who own the land and better qualified?
Across the country, Dangote trailers kill Southerners like rats every time with zero justice ⚖️ for the dead. He singlehandedly destroyed our roads with his heavy haulage of cements Across Southern regions.
Can an Igbo business man try all these and still remain standing?

Go sleep

justtoodark:


yeah,dollars is like gold to them....

i dont remember havin dollars....
i dont have their issues....

but it affects every other person. Why did spaghetti go from 300 to almost 1000 because of dollar... Whether you like it or not whatever happens to naira/dollar rate affects everyone of us in this country

Magnetic010:
but it affects every other person. Why did spaghetti go from 300 to almost 1000 because of dollar... Whether you like it or not whatever happens to naira/dollar rate affects everyone of us in this country

i dont want to get involved in such things....dedicate my life only on huntin dollars....??

no thank you....

nairalanda1:




In Niger republic, fuel costs above N1000 per liter....with even one domestic refinery that meets ALL their needs.

Dangote needs to pay back loans, he needs to pay world class salaries that compete with international standard, and he also needs to pay maintenance costs, and a host of other costs.

Fuel is not going to fall back to N200 per liter. No way.

Do they have crude oil in Niger republic sir.

You people act like fuel going to N200 per litre won't benefit you guys too..Do you enjoy suffering this much or you just think buying everything at higher than actual rate makes you a rich man?....The mentality you all have. What is so wrong in Nigerians demanding to buy basic necessities at reasonable price. Is it reasonable for a country that is one the largest exporter of crude to have such a ridiculously low minimum wage and still sell petroleum products at such a high rate.

How much is fuel going for in other oil producing/exporting countries and how much is their minimum wage?

justtoodark:


i dont want to get involved in such things....dedicate my life only on huntin dollars....??

no thank you....

it's smart to dedicate your life only to hunting dollars...it probably the best you can do in this country

Magnetic010:
it's smart to dedicate your life only to hunting dollars...it probably the best you can do in this country

abomination....

i dont even concentrate on huntin nairas sef....na dollars i wan hunt....

vanities upon vanities....
who you wan trade to get dollars....??

kidnap other people....??
kill....??
lie....??
fornicate....??

no thank you....

Magnetic010:
Nothing will change... this is Nigeria where people buy dollar just to hoard it

This was not always the case.

People hoard dollars because there is no supply. The moment there is enough in the federal reserves reserves naira cards will be switched back on for USD payments. At that stage unless you are saving up to pay say children's school fees etc, there is no point hoarding the USD. Hoarding only works if there is a market to sell it into.

Say even before then, govt launches a domestic type USD Eurobond at 10% will everyone keep their money in non interest yielding acounts?

I understand your scepticism.

deenee:


Lies Oga.

You people keep demonstrating ignorance.

Nnpc has joint venture partnership with several IOCs to explore crude. Crude explored in Nigeria whether for local or international has to be sold at opec pricing otherwise we will be sanctioned.

I think Seun needs to start banning people that display wanton levels of ignorance so we can bring some level of santity to this forum.

Oga calm down you are displaying ignorance here. NNPC has allocation for local consumption that is the issue here, we know that NNPC has stakes in Dangote refinery.

Biodun556:

Then why are we calling for local refinery? Let's kuku continue importing Petrol because refinery is hot

Oga stop being half clever here. The point is this refineries should not be cited in a densely populated area

Ironbull:


I know that East mentioned will be your only headache, anyway pls Google is your friend.

We all read it here and heard about it so please go and Google it or ask Seun to dig out the topic that discussed about it here for you. Ok.

Thanks.

Oga simple answer you cannot give, bring the details of the state in the east. It is not hard naaaa.

Realtruth2023:


Oga calm down you are displaying ignorance here. NNPC has allocation for local consumption that is the issue here, we know that NNPC has stakes in Dangote refinery.

you believe this....??😂😂

justtoodark:


you believe this....??😂😂

But it true naa. Why are you being so dense?

deenee:


Lies Oga.

You people keep demonstrating ignorance.

Nnpc has joint venture partnership with several IOCs to explore crude. Crude explored in Nigeria whether for local or international has to be sold at opec pricing otherwise we will be sanctioned.

I think Seun needs to start banning people that display wanton levels of ignorance so we can bring some level of santity to this forum.

Thanks for the information. I have always assumed it was sold at OPEC prices because if it was not...that means losses. But this makes a lot of things make sense....

EconomistXplain:


balance of trade has bever been the issue.

issue is with balance of payment

Go and collect a refund from your economics teachers.